Money Moves into Ethereum, Trading Takes Over Bitcoin’s Share
The trend of funds flowing into Ethereum is not just a fluke, causing the asset to spike 16% in a day. A curious phenomenon continues for Ethereum (ETH) , indicating an unexpected sort of “flippening” and a challenge to Bitcoin’s position. For months, the share of Ethereum trading took up less than 10% of all market deals, while Bitcoin trades accounted for more than 36% of the market. But now, there are more and more indications that for some reason, money is flowing into Ethereum. The ETH digital asset is seeing up to 20% of volumes dependent on Tether (USDT), but the highest share belongs to the US dollar and the Korean Won. ETH moved more actively, regaining 1.4% on Asian trading to stand at $767.02, up 16% this week. The volumes in the past 24 hours reached above $4 billion. An additional phenomenon gives a boost to Ethereum - hashing power to the network has grown by about 10% since the beginning of May, suggesting that ASIC machines may be coming on board. All of t